A food objective for extraction and/or squeezing is charged into a colloid mill or a twin-screw extruder; immediately after and/or while milling, a low-temperature solvent (for example, water or milk of from −3 to 50° C.) is added; and after treating the food using the extruder, grounds are removed to produce an extract and/or a squeezed liquid. After milling objective foods, for example, a single product or a combination of foods such as coffee, green tea, black tea, herb tea, wild grass tea, Chinese medical tea, cocoa, vanilla, fruit, and vegetable, extraction and/or squeezing can be rapidly and extremely efficiently carried out at a low temperature, which is appropriate for the mass and continuous production. Furthermore, in comparison with the conventional employed extraction and/or squeezing methods such as a low-temperature extraction method which leads to deterioration in flavor due to oxidation after milling, etc. and requires a long time, the present invention brings effects extremely advantageous from the viewpoints of enhancement of flavor and economy. For example, in tea based drinks, a useful component suspends, whereby a vivid color tone inherent to each tea is kept over a long time.